Skip to content

Category: Personal Development

There’s an app for that: CFPB warns against money apps

Direct deposit works through the ACH network—you instruct your bank to prepare a payroll file and it disburses employees’ pay electronically to their banks. It’s clean and usually error-free because NACHA, the electronic banking organization, has rules and protocols controlling the process. At PayrollOrg’s annual Congress, we learned there are other ways to send money electronically. And you should be wary of them.